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Business

Sekisui Chemical to exit water industry in inland China

TOKYO -- Sekisui Chemical is unloading its water infrastructure-related business in inland China due to a decline in public investment and tough competition, focusing instead on selling high-quality water pipes in the country's coastal regions.

     The Osaka-based company will sell its entire stake in a subsidiary in the Xinjiang Uighur Autonomous Region to a local company for an undisclosed amount. Sekisui had been producing and installing large water pipes for agricultural and other uses in China's inland regions since 2005. But the number of such projects had apparently dwindled in recent years on growing public safety concerns and a slowing economy.

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